In order to investigate the characteristics and driving factors of keystone species change in vegetation communities, we conducted a network analysis to analyze the complexity of grassland plant communities and keystone species. We conducted a study with six plots of degraded grassland, intact grassland, and various ages of artificial grassland. We systematically analyzed the characteristics of vegetation community and soil physical–chemical properties under different treatments. Our findings revealed that the 5-year-old artificial grassland exhibited lower biodiversity, as indicated by a Shannon–Weiner index of 1.70 and a Pielou’s evenness index of 0.72. In comparison to the degraded grassland, soil organic carbon and nitrate nitrogen levels in the 5-year-old artificial grassland increased by 22% and 13%, respectively, while soil density decreased by 9%. However, despite the relatively stable plant community in the 21-year-old artificial grassland, it had not fully recovered to the level of natural grassland due to the complexity of the plant community and the shift in keystone species. Therefore, it is crucial to consider the impact of soil bulk density and nutrient levels on the complexity of the plant community when restoring degraded alpine meadows through the establishment of artificial grassland.